This year, the Belgian Government expects to pocket a handsome €350 million payment from its investment in the BNP Paribas Group.
The French banking giant – parent of BNP Paribas Fortis – reported a record profit of nearly €9.5 billion in 2021. Shareholders, such as the Belgian state, will benefit from a generous dividend payment, which in total equals 50% of the bank’s 2021 earnings, BNP Paribas announced in a statement Tuesday.
The Belgium state owns roughly 96 million shares, or about 7.7% of the total BNP Paribas stock, Belga News Agency reports.
Related News
- BNP Paribas Fortis will limit savings accounts to a maximum of €250,000
- Banking sector could absorb a very severe economic crisis
In Belgium, the BNP Paribas Fortis subsidiary reported strong performance during the year, with a profit of €989 million thanks to increased loan and deposit activity.
The banking group spent €82 million in 2021, restructuring its operation and beefing up its online operations. BNP Paribas now boasts 4.3 million digital customers, a 16% increase compared to a year earlier.
